Portage Terrace Ravenna

About This Building

Affordable Housing Option in Ravenna, OH Overview Portage Terrace Ravenna is a Low-Income Housing Tax Credit (LIHTC) apartment located in Ravenna, OH. These rental apartments are designed to provide affordable housing options for individuals with low income. Supported by the LIHTC program, they come with specific rent and income restrictions. Incentives for Affordable Housing The LIHTC program offers incentives to builders and developers, encouraging them to create housing opportunities for low income individuals. The maximum rent charged is based on the Area Median Income (AMI). However, it is important to note that this AMI threshold may make the apartment unaffordable for some low income individuals. Rental Rates To determine if the apartment is affordable for you, it is recommended to check the current rental rates. Keep in mind that there are 60 low income apartments available at this location, and typically, there are waiting lists for such apartments. Contact the provided number directly to inquire about application and qualification processes. Important Considerations When applying for this apartment, it is crucial to include and verify the income of all adults who are expected to reside in the unit. This information is required at the time of application. For further details, feel free to call and inquire. In Conclusion Portage Terrace Ravenna offers an affordable housing solution through the LIHTC program in Ravenna, OH. To explore if this is the right option for you, check the rental rates, contact the apartment management, and ensure your income eligibility.